Jurnal Ar-Ribh
Vol 6, No 2 (2023): Oktober 2023

Institutional Framework and Regulatory Challenges in the Development of the Sharia Financial Sector in Indonesia: A Political Economy Perspective

Fadly Yashari Soumena (Sharia Economics Study Program, Indonesian Parahikma Institute)
Anas Iswanto Anwar (Doctoral Study Program in Economics, Hasanuddin University)
Rahmat Arsyad (Management Study Program, STIE Wira Bhakti Makassar)
Ripa Fajarina Laming (Accounting Study Program, Bosowa University)
Awal Nopriyanto Bahasoan (Management Study Program, University of West Sulawesi)



Article Info

Publish Date
31 Oct 2023

Abstract

This study aims to examine the institutional framework and regulatory challenges in the development of the Sharia financial sector in Indonesia.The main objectives of this research are to analyze the role of government institutions and regulatory bodies, as well as to identify regulatory barriers, in order to strengthen the institutional framework and support the growth of the Sharia financial sector in Indonesia.This study utilizes qualitative research to analyze the institutional framework and regulatory challenges in Indonesia's Sharia financial sector from a political economy perspective. Data will be gathered from policy documents, legal regulations, government reports, academic publications, case studies, and expert interviews. The analysis will involve content analysis for policy documents and regulations, interview analysis, and descriptive analysis of statistical data on the sector's growth.Overall, the results of the analysis show that through this active participation, the Indonesian government hopes to strengthen Indonesia's image as the global financial center of Shariah and the country's economic position at the international level. Thus, the role of the Indonesian government in the Sharia financial sector is expected to continue to grow, provide greater benefits to Indonesians, and strengthen Indonesia's position at the international level. Increased intensive collaboration between governments, practitioners, and colleges in the form of development programs to produce competent human resources (HRM) finance. Providing stronger policy incentives and support The government needs to provide stronger incentives and policy support to develop Sharia finance in Indonesia. Encourage the development of innovative Sharia financial products.

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Journal Info

Abbrev

ar-ribh

Publisher

Subject

Economics, Econometrics & Finance

Description

Ar-Ribh : Jurnal Ekonomi Islam [p-ISSN 2684-7477 |e-ISSN 2714-6316] published by the Islamic Economics Study Program of the Faculty of Economics and Business, Muhammadiyah University of Makassar, this journal publishes research articles in the field of Islamic Economics. This journal publishes ...